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Cyprus: Account Holders
Could Lose Over 80 % Or All




Cypriot banks are in deep crisis, at the brink of collapse and loss of wealth might be inevitable. This, not only due to the direct effect of the taxation.
According to RT's article (recently published), the Cypriot Finance Minister explicitly affirmed "Realistically, very little will be returned" - suggesting that deponents might lose most of the money accumulated in their bank accounts.

Some of Cyprus' banks are on the brink of bankruptcy and it is expected that indeed - some close, leaving thousands jobless. Laiki Bank and the Bank of Cyprus already have weakened foundations.

Amid the Cyprus bank run, physical money supply in the country has drastically been reduced, ATMs got depleted of cash. Of course, the bank run spiked the demand for physcial money (since everyone wanted to withdraw money in the form of banknotes). As we know, banks don't have the money in physical form - you might want to check the article about fractional reserve banking.

During bank runs, the demand for physical money - almost exclusively banknotes - rises dramatically. Of course, Cyprus is a small nation, an island even, so cash depletion happened rather quickly.

Despite this - there are ways to save your deposited money during a bank holiday. Of course, it's better not to keep most your wealth in the bank. Digital money is worse to hold than paper fiat money: what you don't hold and thus, don't control is not yours!

During these hard times, affected cypriots and foreigners would have wanted to have owned their savings in silver and gold.
It's time for everyone to start thinking - whether it's worth holding money in digital form at banks.

Wealth taxation is becoming a trend and it's highly possible that this will affect you as well, as more and more countries will introduce similar measures.
According to some speculations, Slovenia could be the next place for wealth taxation!

Bank deposit taxes, bank holidays, bank runs... It will eventually reach your area as well.
If you don't want your savings to get depleted during a similar nightmare scenario, you'd better consult free guide on how to invest in recious metals.





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